Why was the USDC created?
Everybody knows that some cryptocurrencies' values are highly volatile, so the market created stablecoins to offer users who seek to invest in digital currency, but are willing to bear with low-risk price-change in cryptocurrency. Thus, USDC is an alternative in which is worth investing.
USDC is the largest stablecoin ecosystem.
The data from www.circle.com website shows that the USDC has remained at a rapid growth pace. Starting in early 2020, its market value was around $0.5 billion. Eight months later, the value was exceeding $2.5 billion and is still remaining its growth. In other words, USDC's market value skyrocketed 5.6 times within just 8 months.
How does the USDC function?
Simply put, the USDC is pledged with the US Dollar in the ratio of 1:1. While the US Dollar is regulated by the Federal Reserve and the US Government, the value of USDC is reflected and mirrored the US Dollar as its fundamental value.
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